Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$394,590$310,500
Remaining term (yrs)26.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.260%7.400%
Blended rate6.810%7.640%
1st payment$2,541.85$2,149.84
2nd payment$0.00$0.00
Taxes / mo$257.33$257.33
Insurance / mo$150.00$150.00
MI / mo$189.01$62.10
HOA / mo$405.00$405.00
Total monthly$3,543.20$3,024.27
Cash to close$0$34,500